When it comes to credit, there are some excellent offers out there. There are also ways of borrowing money that are going to cost you a lot in the long run. There are laws to protect consumers from the most exploitative options. Why is it important for anyone seeking credit to understand these laws?

Question

(1 point)
Responses

So they will know their rights as consumers.

So they will know their rights as consumers.

So they can begin lending money to other people.

So they can begin lending money to other people.

So they can start thinking about the things they will purchase.

So they can start thinking about the things they will purchase.

So they can start teaching others about their consumer rights.

Answer 1

The most relevant response is:

So they will know their rights as consumers.

Understanding the laws related to credit is essential for consumers to protect themselves from exploitative lending practices and to make informed financial decisions.